Shares of aircraft-maker Bombardier (BBD.B) rose 0.7% as it announced it had landed a regional jet deal with an airline in Uruguay that could be worth as much as $370 million.

The Canadian dollar was trading lower, with one U.S. dollar buying C$0.9992. The loonie closed above parity with the U.S. dollar in Wednesday's session, the first time since May 2008, and currency analysts said they expect the loonie to hold onto its gains. Kathy Lien, director of currency research at Global Forex trading, said that little can threaten the loonie until the Bank of Canada announces its interest-rate decision at Tuesday's meeting.

"If the market starts to believe that the Bank of Canada will raise rates before the Fed, we could see steeper gains in the loonie," said Kathy Lien.

Higher interest rates generally make a currency more valuable than a rival currency from a country with lower rates.

Lien added that strong economic data coming out of Canada points to an impending interest-rate hike. Canada's statistical agency said on Thursday that the country's recession was less severe than every other G7 nation. Other positive data coming out of Canada on Thursday was from the Canadian Real Estate Association, which announced that home sales rose by 1.4% in March

"Existing home sales continue to make headway," Action Economics analysts wrote in a note. "That is the sixth consecutive monthly increase, and suggests that supply and demand are moving back into balance."

Other stocks that advanced were shares of Cogeco Cable (CCA), which gained 0.9% and shares of the Bank of Nova Scotia(BNS),which rose 1.2%.

The index measuring Canada's energy sector (IRTEN) fell 0.2% as the price of crude oil futures were nearly flat on the New York Mercantile Exchange. In metals, Gold for June delivery, the most active contract, rose 70 cents, or 0.06%, to $1,160.30 an ounce on the New York Mercantile Exchange. This modest gain hurt the Canadian metals and mining sector(ITTMN), which declined 0.2%.

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